Blockfreight is an international blockchain answer for the global shipping industry. 60 years after the invention of the shipping container, the Blockfreight ICO review covers the platform is initiated on April 26, 2016, as a major milestone in the freight business by launching its blockchain-based platform. On the same month and date in 1956, the inception of container shipping began with Malcolm McLean’s shipping container.
The Blockfreight platform at Blockfreight.com marks an evolution in the world of shipping, as the company prides itself with the claim of a new era for the chains of custody statistics involved with all the movement of worldwide freight, digital security, record keeping, authentication and trust. It’s clear that the invention of contemporary shipping containers went a long way in cutting down heavily in terms of costs and hastened the pace of global trade. Now, Blockfreight ICO judges that the “transaction containers’ on its network will further the effectiveness of international shipping.
How Blockfreight works
Blockfreight is built on Bitcoin’s active blockchain geared to enhancing market access and building of financial strength in international trade by increasing income and shared costs for the global chain supply. There are a lot of mechanisms involved under Blockfreight blueprint; below we highlight each of them.
1. Blockfreight ICO Review R&D
Blockfreight started out at first as a research development company. The research and development thereafter resulted in the birth of the MIT project, Blockfreight Open Source.
2. Blockfreight Open Source
A Blockfreght codebase posted on Github.com is the licensed Open Source MIT project which serves collaboration and communication of all developers and network contributors within the freight community.
3. Blockfreight Token and Token Sales
The Blockfreight token named XCP or BFT which was started in June 2016 on its platform serves as the network fee which is utilized during transactions at Blockchain. The XCP was created under Bitcoin and is on Counterparty as an active blockchain. Companies, licensed individuals or agents can carry out sales on the Blockfreight network.
4. Blockfreight Inc.
Blockfreight Inc. is the mother company behind the Blockfreight platform and which manages functions on the network, while also regulating and managing the licensing of the access tokens sales. The company charges a fee for the transactions on its network with the belief that free access may act as a beacon for abuse of end-user data for various reasons. For this reason, Blockchain maintains network fee targeted at sustaining the open status of its network.
5. Blockfreight Consensus
The network of Blockfreight consensus depends mostly on validators or nodes who offer validations, peer transmissions and reviews for transactions. Even though Blockfreight is built on Bitcoin network, it utilizes other systems also to run its network, for instance, it employs Ethereum for transactions and Interplanetary File System for binary data and store references.
6. Blockfreight’s Minds
The great minds behind Blockfreight are the CEO and co-founder Julian Smith who has over ten years of expertise in software engineering and entrepreneurship, Build Manager Jerram Watters and Developer Gian Nascimento. The company has its headquarters in San Francisco, CA.
The BFT ICO Review
The blockchain-based Blockfreight platform was started as a solution for problems facing international shipping and logistics. Though Blockfreight was initiated in June 2016, its ICO for BFT token is slated for February 16 till March 16 f 2018. For more information on Blockfreight and its token sale, stop at Blockfreight.com